7A - Testing the Hypothesis

1. Opportunity: I believe there is an opportunity for an online streaming service at UF. It would allow students to stream a variety of movies/tv shows as well as Gator sports and save them money by having the service through one provider instead of multiple outside vendors. Students would pay a fee every month for access to the streaming platform. 
2. The Who: UF students The What: Students currently pay money to multiple outside vendors to have movies and TV shows at the touch of their fingers, but this hinders them from spending their money on other things. The Why: Students have high living expenses with payments such as food, tuition, and rent.
3. Testing The Who: I believe most UF students currently have this need and would benefit from the capitalization on this opportunity. I believe many other schools could take advantage of this opportunity and create their own streaming services as well. Testing The What: The boundaries of this are the needs of the UF students. I am assuming that many students deal with the same problem that I do, which is paying for multiple streaming services (which adds up very quickly) and still not having access to all of the shows/movies I want to see. However, if this does not hold true for many UF students, this opportunity is not as good as I originally thought. Testing The Why: I think as a college student myself, it is easy to spend all of your income on living expenses such as food, rent, tuition, car insurance, gas, phone/internet bills, etc. However, it is nice to be able to spend money on fun things sometimes, and if there is one streaming service that offers the vast majority of things you want to watch instead of paying for more than one, I think it would be very popular among students and would allow them to have more money in their pockets. 
4. Interview #1: The first person I interviewed has the Bright Futures scholarship as well as the National Merit scholarship. These scholarships together give her enough money that she does not have to pay for tuition, rent, or groceries out of money from her own pocket. When asked about the streaming services she currently has, she said she pays for Netflix, Hulu, and Disney+. The cost of these  three streaming services amounts to $22 a month. Although all of her living costs are covered by scholarships, she is trying to save money for her future. So, an opportunity like this one would benefit her greatly. Interview #2: The second person I interviewed is from Virginia (pays out-of-state tuition) and came to UF with no scholarships. Her parents are currently loaning her the money to pay for school. When asked about the streaming services she currently has, she said she pays for Netflix and Hulu. The cost of these two streaming services amounts to $15 a month. This is a steep cost for her since she is already indebted to her parents for school and rent. She indicated that this was a lot of money for her to be paying each month, and if there was one service that was cheaper and could provide a better variety of shows, it would benefit her greatly. Interview #3: The third person I interviewed has the highest level of the Bright Futures scholarship. Although she does not pay for her classes, she will be paying for rent on an apartment starting this year with a cost of $695 a month, as well as having to buy groceries. This is a large sum of money to have to be paying each month. When asked what streaming services she has, she said she pays for Netflix, Disney+, and PureFlix. The cost of these three streaming services adds up to $23 a month. She said this is a lot of extra money to be tacked on to her already high monthly costs and a streaming service that would be more affordable and have a better variety would be better for her needs. Interview #4: The fourth person I interviewed was someone who currently pays for no streaming services and just uses her friends accounts to watch shows and movies. She said that although this would be a great idea for other students, it would actually cause her to lose money, because she would be paying for something that she would not normally be paying for. Interview #5: The fifth and final person I interviewed was a student whose parents pay for their streaming services. In doing so, the student is getting the services for free to them. Like the fourth person I interviewed, they indicated that this was a good idea, but would cause them to lose money. 
5. Reflection: My interviews were very interesting and showed the different monetary situations as well as the streaming services of each individual I talked to. I went into the interviews thinking that this opportunity would apply to every UF student and they would find it very helpful in reducing their monthly payments. Although not every student I talked to pays for their streaming services, all five of them had access to a streaming service one way or another. I still believe that my opportunity could be capitalized on, but not every student on campus would get significant use out of it like I originally anticipated.

6A - Identifying Opportunities in Economic & Regulatory Trends

(Economic Trends) The first opportunity I found is that about 14.7% of American people are out of jobs because of the Coronavirus. I found this in the Wall Street Journal (https://blogs.wsj.com/economics/2020/05/08/newsletter-special-report-historic-job-losses/) while reading an article that talked about the historic job losses that this virus has caused. I believe this information suggests an opportunity exists because people being out of work is harming the current state of the economy and getting these people back into work is a very important task that needs to be done in order to save the economy from anymore downfall. The customer with the opportunity would be people who have lost their jobs due to closures and other effects of the virus. I think with the given economy, it might be hard to exploit because there are not many jobs available for these people, therefore not really a way to solve the problem. I saw this opportunity because some of my friends and their parents have lost their jobs because of this unfortunate epidemic and seeing them struggle has opened my eyes to the other people that are struggling as well. 

(Economic Trends) The second opportunity I found is that almost 4 million U.S. homeowners are unable to pay their bills and are facing foreclosure. I found this on Fox News (https://video.foxnews.com/v/6155393648001#sp=show-clips) while watching a video about the economic downturn from the virus as well as the projected growth that is predicted to come from businesses being able to reopen soon. I believe this is an opportunity because it is a problem that is facing so many people and if someone is able to act now with a donation or jobs that allow the people to make money to pay their bills, this would greatly change the economic trend. The customer with the opportunity would be U.S. homeowners who are unable to pay their bills. Again, in this current economic position, I think this would be a difficult opportunity to exploit, but if it was able to be accomplished, it would greatly change the current trends for the better. I saw this opportunity because I have so much sympathy for people that this virus is affecting, thankfully it has not affected my family too greatly. But, it has really allowed me to see how it affects other people.

(Regulatory Changes) The third opportunity I found is that many independent-contractors in California will no longer be classified as such and will have to pay more in taxes because of it. While reading an article on Paychex.com (https://www.paychex.com/articles/compliance/top-regulatory-issues) I found that in California, there is going to be a new regulation that stipulates who is considered an independent-contractor and who isn’t. I believe this is an opportunity because this change may not seem like too big of a deal, but to the contractors it is affecting, it means a large difference in the amount of taxes they pay. The customer with the opportunity would be people who are no longer classified as independent-contractors due to this new regulation. I think this opportunity is relatively hard to exploit because the contractors would be out a lot of money for taxes, and because of the new regulation this sounds like a pretty permanent change that will affect them for a long time. I saw this opportunity because my friend is a contractor and while reading the article I was thinking about him and how this would greatly affect him.

(Regulatory Changes) The fourth opportunity I found is that many states, such as Oregon are banning plastic bags from stores, and requiring customers to bring reusable bags or buy paper ones at the store. I found this on CNN (https://www.cnn.com/2020/01/01/us/new-laws-coming-in-2020-trnd/index.html) while reading an article about the new regulations that have been put into place for 2020. I believe this is an opportunity because people are going to be searching for reusable bags to purchase so they do not have to pay for paper bags every time they go into the store, and this is something that can be capitalized on. The customer with the opportunity is people who live in states that have banned plastic bags. I think this opportunity is relatively easy to exploit because selling reusable bags to customers could generate profit for the company in charge and prevent the customer from having to pay a fee for paper bags when they go shopping. I saw this opportunity because my whole family lives in Delaware, where there is already a plastic bag ban and with each new state that adopts this law, there is a new opportunity. 

5A - Identifying Local Opportunities

1. Jobless claims reach 33M
2. Link: https://tampabaytimes-fl.newsmemory.com/
3. Description of the Story: Since the Coronavirus pandemic, more and more people are claiming unemployment. It has recently reached an all time high with 1 out of every 5 workers having to apply for unemployment. This is true throughout Florida and could even be higher in big cities like Tampa and Orlando.
4. Description of the Problem: U.S. companies are unable to pay their workers with this pandemic closing many of their stores/restaurants, so many workers are being laid off.
5. Who has the Problem: People who were working for companies that had to close their stores and were laid off as a result.

1. No face cover, no service?
2. Link: https://tampabaytimes-fl.newsmemory.com/
3. Description of the Story: With the Coronavirus pandemic, many stores have had to close that are non-essential. Stores that were able to remain open, such as Fresh Market, started policies that required not only their workers to wear masks, but their shoppers as well. Many stores are able to start opening this weekend, and will follow the example that Fresh Market has set, but in Tampa it is not required to wear a face mask yet.
4. Description of the Problem: Since there are no mask laws yet, customers cannot be penalized for not wearing one, other than being asked to leave the store.
5. Who has the Problem: People who are unable to get their hands on masks because there is a shortage and they can’t stay on the shelves.

1. Teens juggle jobs, virtual education
2. Link: https://tampabaytimes-fl.newsmemory.com/
3. Description of the Story: Because of the epidemic, schools have shifted online and many stores that are open (such as Target) have been asking their workers to work longer hours, including teenagers. With these added work hours, teenagers have less time to focus on school, and their grades have been slipping as a result. Teachers in Hillsborough county are noticing a downward trend in the grades of their students.
4. Description of the Problem: Teenagers grades are getting worse as a result of virtual school and longer work hours.
5. Who has the Problem: Teenage students who have jobs.

1. Unlocking floodgates - slowly
2. Link: https://tampabaytimes-fl.newsmemory.com/
3. Description of the Story: With the pandemic closing theme parks and places of large gatherings, naturally the Florida Aquarium and ZooTampa had to close as well. Since many business are starting to reopen in Florida, the CEO’s of the attractions are trying to figure out safe ways to start opening that will keep the visitors and the animals safe.
4. Description of the Problem: Finding a safe way to reopen the attractions that will protect the animals and the visitors.
5. Who has the Problem: The CEO’s and the people in higher management that have to come up with the solution.

1. Neiman Marcus files for bankruptcy
2. Link: https://tampabaytimes-fl.newsmemory.com/
3. Description of the Story: With the pandemic, many stores have been forced to close. Because of these closures, some stores have gone bankrupt because they have had to continue to pay rent when they have no revenue coming in. Before Neiman Marcus filed for bankruptcy, J. Crew had as well. There are expected to be many more companies filing for bankruptcy in the future. Many small businesses throughout Tampa have had to close their doors for good, but these two are some of the first large companies to have to do the same.
4. Description of the Problem: Stores have to continue to pay their rent when they have no cash inflow because their stores are closed.
5. Who has the Problem: All businesses that have been shut down because of the virus, such as J. Crew and Neiman Marcus.

4A - Forming An Opportunity Belief

1. I believe that it is very unsafe to turn into my neighborhood off of Dale Mabry Highway.
2. The unmet need is a safe way to get into the neighborhood. The people who have the need are the people who live in my neighborhood that drive. The need came from the development of the neighborhood, which has been here for 3 years now. To meet this need now, people are putting their turn signal on and trying to turn into the neighborhood off of a 55mph road. I believe there is a 70% chance this opportunity exists.
3. The prototypical customer refers to the people who live in my neighborhood who drive.
4. Neighbor #1: The exact nature of the need is safety. They become aware of the need all the time, but especially during times when many people are on the roads. They have had the need since they moved into the neighborhood about 1.5 years ago. They first became aware of the need on the way home from picking up their children from school one day and trying to turn into the neighborhood. As they were turning into the neighborhood, the person driving behind them did not brake and almost rear-ended them. They are currently addressing the need by putting their turn signal on almost 100ft before the turn. They are not very satisfied with this solution because it does not prevent them from being in a car accident.
   Neighbor #2: The exact nature of the need is prevention of accidents from occurring. They become aware of the need all the time, but especially during rush hour. They have had the need since they moved into the neighborhood about 2 years ago. They first became aware of the need on their way home from work when they had to quickly turn into the neighborhood when they realized the person behind them was not braking. They are currently addressing the issue by quickly turning into the neighborhood instead of safely turning in like they should, to try and prevent rear-ending. They are not very satisfied with this solution because even though it is lowering the risk of getting rear-ended, they could lose control as they're turning in because they're trying to get off the highway so fast.
   Neighbor #3: The exact nature of the need is their fear for the safety of their children driving. They become aware of the need all the time. They have had the need since their oldest child started driving 6 months ago. They first became aware of the need when they were teaching their child how to drive on the highway and noticed that the car behind them was not slowing down when they went to turn in to the neighborhood. This immediately started a sense of panic in the mother as she was sitting in the passenger seat. They are currently addressing the problem by praying and constantly reminding their child to be safe while turning into the neighborhood. They are not very satisfied with this solution because it does not fix the problem at hand. 
5. I learned that people feel the same about the issue that I originally though they would and they think about the issue all the time, not just at a specific time. All 3 of the people I interviewed had very strong opinions that it is unsafe the way it is now, and the things they are doing to try and help the situation are temporary and there should be a more permanent fix to the problem. The most surprising thing I learned about the opportunity is that 2/3 neighbors that I interviewed have sent emails to the county to try and get a turn lane or a light put in where the turn is for my neighborhood.
6. All of my original opportunity is still there, this was a very large problem to people and they had very strong opinions that there needs to be a change. Since talking to the people, I have realized that a traffic light would work as well as the turn lane I previously talked about, so I think there is a more diverse way of fixing the problem than I had originally anticipated. I believe that having this added information from the people I interviewed allows me to have a more accurate opportunity than what I had in the beginning. I believe entrepreneurs should take feedback very seriously and should adapt their opportunities accordingly. If people in the target market do not see the problem as important as the entrepreneur, then it might not do as well as they think it will. I think the more they adapt to the feedback, the better their solution to the problem will do in the market.

3A - Your Entrepreneurship Story

When I was 16, I decided I was going to learn calligraphy. I taught myself and bought special pens and paper to start the projects. After about 3 months, I created an Instagram to share and sell my work with people. Since then, I have done many projects such as bible lettering, kitchen and laundry signs, cork boards, wedding place cards, baby shower chalkboards, wall art, wedding signs, and more. What started as a small idea to try a new hobby, morphed into something that I love to do and am able to make extra money by doing. Even though I have been able to do all of these fun projects, I am still trying to grow and become more prevalent in the minds of people who like custom art.

I took ENT3003 this semester because I needed to take a business elective but also would like to further pursue some type of entrepreneurship in my future. Whether it be my calligraphy or an entirely different idea, I want to be able to say that I came up with something that helped people and changed how they interpreted something in everyday life. I would really like to learn what it takes to be an entrepreneur and how to pursue the target market without trying to pursue the whole population. 

This is a calligraphy series that I created to hang in apartments or dorms. This is the first one I have done, but I have 3 orders so far!

2A - Bug List

1. The drive-thru line at the Chick-Fil-A on Dale Mabry will back up onto the road at any normal meal times.
   Why: The line is too short and there is a gas station next to it, so there is no room to expand
2. You have to pay an extra fee to get your recycling picked up in Delaware where my grandparents live.
   Why: Picking up the recycling is not included in county taxes and residents can choose their own provider instead of the recycling being picked up by the county.
3. The Springs Complex dorms are freezing all the time.
   Why: The thermostats are too old or not functioning correctly.
4. The services at the Hair Cuttery on Dale Mabry are very inconsistent.
   Why: Each stylist employed by the store has a different level of expertise and there is no way of knowing who has more experience when you walk in.
5. When store websites (such as Target and Home Depot) say something is in stock, but it isn’t when you get there.
   Why: There is a glitch in the computer system or a lag between when someone purchases an item and when the website is updated.
6. It takes about 30-40 minutes to get to my job that is only 9.2 miles away.
   Why: The traffic on Dale Mabry and Bruce B. Downs is awful.
7. Items ordered from the online retailer, Romwe, take way longer to ship than originally estimated at checkout.
   Why: The company overestimates their abilities to get their items to people and do not take into account extenuating circumstances that could change this time frame.
8. You have to sign an apartment lease almost a year in advance to get the best price.
   Why: To ensure that you’re filling a spot, and the higher the supply of apartments, the cheaper the lease price.
9. High school starts during rush hour, meaning you have to get up earlier to leave earlier then you should have to.
   Why: The schools do this so that students can get out of school earlier and be able to have a job after school.
10. Dunkin Donuts on Dale Mabry has very bad customer service.
    Why: The franchise does not train their employees on customer service.
11. It takes a year or more for a new season of a show to come out on Netflix.
    Why: It takes a lot of time to cast, shoot, and produce a new season of a show.
12. The ice maker in my freezer cannot keep up with the amount of ice that my family uses.
    Why: The ice dispenser is too small to hold more ice and the ice tray only produces a small amount of ice each time.
13. Individual lanes of purchasing in retail where some move faster than others.
    Why: The store has multiple lines instead of a single line that feeds into whichever register is available first.
14. It only costs $0.20-$0.50 less to buy a 16 oz. bottle of coke than to buy a 2 liter bottle.
    Why: The convenience of the size of the bottle and the placement of it in the store (usually in a refrigerator near the checkout lines).
15. Grotto’s pizza (my favorite pizza place in Delaware) doesn’t do shipping out of state.
    Why: The pizza wouldn’t be up to the standard of the franchise, so they don’t want to jeopardize the image of the company.
16. When you buy a bag of chips and the chips only take up about half the bag.
    Why: The bigger bag is more appealing to the consumer, but for the price that you are paying it cannot be a full bag.
17. When you buy things online and the shipping is only free if you spend a certain amount of money.
    Why: The company needs to generate a certain amount of revenue from the purchase to cover the shipping.
18. When McDonald's ads for the Big Mac (or any other item) look very different than when you go and purchase the item.
    Why: The point of the advertisement is to get people to come into the restaurant to purchase something, and by the time you’ve realized it doesn't look as good as the ad, you’ve already purchased it.
19. The parking lot at Steinbrenner High School (my high school) is too small and causes many students to not be able to drive to school.
    Why: The amount of land that the school district bought to build the school was too small to create an adequately sized parking lot
20. There is no turn lane on Dale Mabry to turn into my neighborhood.
    Why: The neighborhood was built after the road and the road has not been upgraded since the neighborhood was built.

Reflection: I found this assignment easy for the first 10 things. Once I hit 11, I started to become stumped and had to walk away and do something else before coming back to it. There are a lot of things that bug me on a day to day basis, but it was very hard to come up with them on the spot like this. However, the reasons for why things are like this was very easy to come up with.

Test Post

This is my test post!